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HARBOR FEDERAL SAVINGS AND LOAN ASSOEIATION
CONDOMINIUM RIDER
THIS CONDOMINIUM RIDER is made this . . . . . . . . . . . . . . ~TN. . . . . . . . . . . day of. . . _ . ~u~Y. . . . . . . . . . . . . . . . . . . ,
19 ..~,~and is incorporated into aad shall be deemed to amend and supplement a Mongage, Deed of Trust or Deed to Secure Debt
(hereia "security instrument") dated of even date herewith. given by the undersigr.ed ( herein "Bomower") to secure Borrower's Not to
HARBOR FEDERAL SAVINGS AND LOAN ASSOCIATION (herein "l.ender') and covering the Propeny described in the
security uuwment and located at . . . . .~2Q~. .NOrth ,A-~ -A . . . : . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(PrOperty Addressl
The Propecty comprises a unit in, together with an undivided interest in the common elements of, a condominium
pro)ect known as . . . . . . . .The .S~tnds
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
n+.m. a cw+aomi~w~n wq.C~
. . . . . _ . . . . (herein "Condominium Project").
CONDOMIMUM COVENANTS. In addition to the cove~ants and agreements made in th¢ securiry instrument.
Borrower and Lender further covenant and agree as folbws: .
A. Assessments. Borrower shall prompdy pay, when due, all assessments imposed by the Owners
Association or other goveming body of the Condominium Project (heretn "Owners Association') pursuant to the
provisions of the declaration, by-laws, code of regulations or other constituent document of the Condominium
Proiect.
B. Hazard Insurance. So long as the Owners Associatlon maintains a"master" or "blanket" policy on the ,
Condominium Proj¢ct which provides insurance coverage against fire, har.ards induded within the term "ext¢nded
coverage," and such other hazards as Lender may require, and .in such amounts and for such
periods as Lender may require, th¢n:
(i) Lender waives the provision in Uniform Cov¢nant 2 for the monthly payment to Lendet of one-
twelfth of the premium instaUments for hazard insurance on the Property;
(ii) Borrower's oblgation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is d¢emed satisfied; and
(iii) the provisions in Uniform Covenant 5 regarding application of haaard insuranc¢ proceeds
shall be supersed¢d by any provisions of the deciaration, by-laws, cod¢ of regulations or oth¢r constituent
document of the Condominium Project or of applicable law to th¢ extent necessary to avoid a conflict between
such provisions and the provisions of Uniform Covenant 5. For any period of time during which such hazard
insurance coverage is not maintained, the immediately pTeceding sentence shall be deemed to have
' no forc¢ or eff¢ct. Borrower shall give Lender prompt notice of any lapse in such hazard insurance coverage.
; In the event of a distribution of hasard insurance proceeds in lieu of restoration or repair following a loss to
~ ihe Property, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby
; assigned and shall be paid to Lender for application to the sums secured by the security instrument. •with the
excess, if any, paid to BoTrower.
€ C. LendeY`s Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior
written consent. partition or subdivide the Property or consent to:
(i) the abandonment • or termination of the Condominium Project, except for abandonm¢nt or
termination provided by law in the case of substantial s~estruction by fire or other casuahy or in the case of a
~ taking by condemnation or ¢minent domain;
(ii) any material amendment to the declaration, by-laws or code of regulations of the Owners
Association, or equivalent constituent document of the Condominium Project, including, but not Iimited to, any
amendment whkh would change the percentage interests of the unit oumers in th¢ Condominium Project; or
(iii) the effectuation of any d¢cision by the Own¢rs Association to terminate professional management -
and assume s¢lf-management of the Condominium Project. .
~ D. Remedles. If Borrower breaches Borrower's covenanta and agreements hereunder, including the
~ covenant to pay when due condominium assessments, then Lender may invoke any remedles provtded
under the security instrument. including. bet not limited to. those provided under Uniform Covenant 7.
IN WITNESS WHEREOF, Borrower has executed this Condominium Rider.
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~ Rita P. Reisinger
~ CONDOMINIUM RIOER-t to 4 Fami.y-6/75-fNMA/FHLMC UNIFORM INSTRUMENT
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